Just Climate - Climate Assets Fund I
Snapshot
Fund Type: Private Equity
Fund Size: $1.5 billion
Investment Stage: Growth stage, asset-heavy companies
Geographic Focus: Global, with a focus on developed markets
Sector Focus: Energy, Transport and Mobility, Heavy Industry, Buildings and Construction
Fund Overview
The Just Climate business has two strategies: one focused on Industrial Climate Solutions, or ICS, and another on Natural Climate Solutions, or NCS. Climate Assets Fund I is the first fund in the Industrial Climate Solutions strategy.
It is focused on decarbonizing the highest emitting and hardest-to-abate industries, such as shipping, industrials, cement, and land use. By investing in proven, transformative climate solutions, and helping them scale their businesses to attract more risk-averse investors, it aims to commercialize and scale high impact climate solutions which it believes can radically reduce or remove emissions, and help them achieve widespread market adoption. Part of the Generation Investment Management group, this $1.5B fund’s incentive structure is directly linked to the delivery of its climate goals: the more the fund achieves in terms of climate impact, the higher the potential performance fee.
Why We Invested
Like Heading for Change, Just Climate is working to catalyze the flow of investment capital to transformative climate solutions, delivering a prosperous, equitable, healthy and safe society for all. They utilize climate-led research to understand emissions pathways, abatement costs and catalytic opportunities to identify transformational and scalable opportunities. Inclusion and diversity is a core value and there is good representation of women and people of color across the entire team, including in the Management Committee and Investment teams. They are leaders in sustainable investing with high quality processes and procedures. Climate Assets Fund I has an impact-linked carry related to GHG emissions.
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